Email Contact Phone Company Visit Website

World Headquarters Office Head Office

100 Tournament Drive Suite 300

London Office Office

1 Ropemaker Street

Singapore Office Office

100 Cecil Street #05-02 The Globe




Leigh Ann Wolfe
[email protected]
Back to all Financial Software Systems Inc. announcements

Bank of East Asia Licenses Spectrum for Its Singapore Branch

Bank of East Asia ("BEA"), Hong Kong's largest independent local bank, has licensed Financial SoftwareSystems’ Spectrum Treasury System to manage all aspects of its Treasury operations in its SingaporeBranch. Not only will BEA utilize Spectrum for managing all front-office, middle-office and back-officeoperations for its interbank FX and interest rate trading, but BEA will also use Spectrum's industry-leadingmargin trading module to manage its clients' collateralized foreign exchange trading.

BEA is known for the comprehensive range of retail and commercial banking services that it provides to awide array of clients. Retail and wholesale banking services are delivered through the Bank's PersonalBanking, Corporate Banking, Wealth Management, Investment Banking, China, and Internationaldivisions. BEA operates one of the largest banking networks in Hong Kong, and operates one of mostextensive networks of any foreign bank in China. BEA has an international network of more than 200branches and outlets, and has total assets of over USD 50 billion.

Spectrum will be utilized by BEA's Singapore Branch for managing all aspects of its Treasury business.Michael Wee, General Manager - Asia Pacific for Financial Software Systems, commented, "We are verypleased to have Bank of East Asia as another high-profile client in Singapore, and we look forward topartnering with BEA on the implementation of Spectrum. It is especially gratifying to have BEA-Singaporeas a client since BEA's headquarters office in Hong Kong had selected another Treasury system only afew years ago. After evaluating a number of competing front-office and back-office Treasury systems,BEA selected Spectrum, which underscores the strengths of Spectrum. Not only did BEA find Spectrum'score front-office and back-office Treasury functionality to be superior, but by licensing Spectrum BEA alsoacquired the premier FX margin trading system. Spectrum will not only provide straight-throughprocessingfor BEA's wholesale Treasury business, but the margin trading module of Spectrum will alsoenable BEA to significantly expand its Wealth Management business."

Spectrum is a comprehensive Treasury system, providing straight-through-processing for a wide varietyof foreign exchange, money market, fixed income and derivative instruments. Spectrum providescomplete front-office, middle-office and back-office functionality, from deal capture in the front-office allthe way to producing General Ledger accounting entries in the back-office. BEA will utilize Spectrum toproduce SWIFT, printed and email confirmations. SWIFT payments and electronic settlement messageswill also be produced by Spectrum. General Ledger accounting entries will be produced by Spectrum'smulti-currency Treasury sub-ledger, and then exported to BEA's General Ledger system. BEA will alsoutilize the powerful margin trading module of Spectrum to provide management of client collateral,calculation of clients' margin positions, and preparation of client margin calls for collateralized FX trading.